Iceland energy investment plans steam ahead

gea1A group of foreign energy investors met with the owners of Reykjavik Energy late last week about investment opportunities in the Icelandic energy market, according to MBL.is. Iceland is known for it abundant sources of cheap, renewable energy in the form of hydro and geothermal power.

Icelandic energy companies report that the Iceland banking crisis has not had a noticeable effect on foreign interest in Iceland’s energy industry. In fact, the weakness of the krona seems to be creating new opportunities.

“I see no evidence at all that people have lost interest in investing in Iceland outside the banking sector,” says Hjorleifur B. Kvaran, director of Reykjavik Energy and Reykjavik Energy Invest.

“People get lots for their dollar and euro here in Iceland now,” said Asgeir Margeirsson, director of Geysir Green Energy. “As a result, their costs in Iceland have reduced considerably, that is one reason for the increased interest.”

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